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Lloyds to cut up to 1,000 jobs as part of restructuring

Staff writer |
Lloyds Banking Group plans to cut up to 1,000 jobs across its operations as part of a restructuring it announced a year ago.

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The staff affected work in Lloyds' retail, commercial banking and consumer finance teams as well as some back office divisions.

"The group's policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group," said Lloyds, which is looking to cut around 9,000 jobs by 2017.

"Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy. Compulsory redundancies will always be a last resort."

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